UNION CITY, N.J. — Marcus & Millichap has arranged the sale of a multifamily building located at 4322 Kennedy Blvd. in Union City. A developer acquired the seven-unit property for $1 million. Jonathan Zamora of Marcus & Millichap represented the seller, a private investor, and the buyer in the transaction.
ENID, OKLA. — CBRE has arranged the sale of Neilson Square, a shopping center located at 3322-3518 E. Owen K Garriott Road in Enid. Dallas-based Dunhill Partners acquired the 67,837-square-foot property from Louisville, Colo.-based IPS Neilson Square LLC for an undisclosed price. Anchored by Staples and Old Navy, the property was 94 percent occupied at the time of sale. Jason Little and Justin Brannon of CBRE represented the seller, while Basel Bataineh, also of CBRE, assisted with financial analysis and underwriting services for the transaction.
BRANDON, FLA. — Franklin Street has arranged the $7.5 million sale of Brandon Crossroads, a 30,182-square-foot shopping center located at 2050 Badlands Drive in Brandon, a suburb of Tampa. The center’s tenant roster includes Orangetheory Fitness, Amazing Lash, My Gym, Pinot’s Palette and Massage Envy. Joe Morrow of Franklin Street represented the seller, Kennedy Investments Inc., in the transaction. The buyer was Sauteur LLC, a private investor based in Gulfport, Fla. Ryan Derriman of Franklin Street led the leasing assignment for Brandon Crossroads on behalf of Kennedy Investments and elevated the property from 63 percent occupied to fully leased within three years.
DUNDAS, MINN. — KW Commercial Midwest has arranged the sale of a former Kmart property located at 404 and 420 Schilling Drive North in Dundas, about 40 miles south of Minneapolis. The sales price was not disclosed. The one-story, 94,479-square-foot retail center was constructed in 1990 and sits on approximately 12 acres with high visibility to State Highway 3. The property consists of two adjoining buildings: the former Kmart store, vacated in April 2016, and the currently leased Sears HomeStore. The buyer, CJB II Real Estate LLC, is redeveloping the property for multiple tenants. Tom Baker and William Gorton of KW Commercial Midwest brokered the sale.
KANSAS CITY, KAN. — Capital Electric Construction Co. Inc. has signed a 50,296-square-foot industrial lease to consolidate its regional headquarters in Kansas City. The company currently operates out of the Rivergate Building at 600 Broadway as well as warehouse space on Dodge Street in the Fairfax District. The new location will house all local operations at 627 Adams St., and is expected to open in July. Bob Fagan, Matt Eckert and Joe Orscheln of CBRE represented Capital Electric Construction in the lease transaction. Paul Neal of Grindstone Properties represented the landlord, Prime Investments. Capital Electric Construction is a wholly owned subsidiary of MDU Construction Services Group Inc. in North Dakota.
EASTVALE, CALIF. — Amazon has leased a 1 million-square-foot logistics center in Eastvale. Located within a 205-acre, mixed-use development, the new space will offer a variety of space options, including distribution, business park, retail and medical. It will be situated directly off the Cantu-Galleano Ranch Road Exit on the I-15. Amazon is scheduled to occupy the new facility in 2018. Goodman Group will build Goodman Commerce Center Eastvale.
LILBURN, GA. — CBRE has arranged the $22.6 million sale of Park Crossing Apartments, a 280-unit multifamily community located at 2700 Park Crossing Way in Lilburn, a northeast suburb of Atlanta in Gwinnett County. New Jersey-based Engineering Partners purchased the asset from Ventron Management with plans to upgrade the property’s interiors and amenity spaces. Built in 1985, Park Crossing features one-, two- and three-bedroom units and was 98 percent occupied at the time of sale.
MONTICELLO, N.Y. — A joint venture between Heidenberg Properties Group, Strategic Real Estate Partners and Norse Realty Group has acquired Thompson Square Shopping Center in Monticello. An undisclosed seller sold the 117,944-square-foot property for $19.1 million. A 54,300-square-foot ShopRite anchors the property, which was 90 percent leased at the time of sale. Tenants include Staples, AutoZone, Monticello Cinemas, Catskills Hudson Bank, Brother Bruno’s, Subway and GameStop. This is the second joint venture acquisition between the three companies.
SPRINGFIELD, N.J. — Tulfra Real Estate, in partnership with The Hampshire Cos., has completed the disposition of an industrial property located at 21 Fadem Road in Springfield. Shelbourne Global Solutions acquired the property for $12 million. Situated on 5.4 acres, the 122,000-square-foot property was fully leased at the time of closing. Norman Feinstein of The Hampshire Cos. provided in-house representation for the sellers in the deal.
DALLAS — Cushman & Wakefield has arranged the sale of an office building located at 17120 Dallas Parkway in Dallas. The Dallas-based family office of Embrey Interests acquired the 47,423-square-foot property from owner-tenants Loomis Agency and Carbon Cos. The sellers will continue to occupy the building. Beth Lambert and Diego Arroyave of Cushman & Wakefield represented the sellers in the off-market transaction. Additionally, Lambert and Arroyave arranged a 10-year acquisition loan through a life insurance company for the buyer.